(Answered) Webnuts inc a us corporation receives 500000 of

Management Studies

WeBNuts, Inc., a U.S. corporation, receives $500,000 of foreign-source interest income, on which foreign taxes of $5,000 are withheld. WeBNuts's worldwide taxable income is $900,000, and its U.S. Federal income tax liability before FTC is $270,000. What is WeBNuts,'s foreign tax credit(FTC)? Explain your answer

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